Stellar Concepts - Glossary

https://developers.stellar.org/docs/glossary

Account​

A central Stellar data structure to hold balances, sign transactions, and issue assets.

See the Accounts section to learn more.

Account ID​

The public key used to create an account. This key persists across different key assignments.

Anchor​

The on and off-ramps on the Stellar network that facilitate one-to-one conversion of off-chain representations to and from tokenized assets, for example, digital tokens representing bank deposits.

Application (app)​

A software program designed for users to carry out a specific task (other than operating the computer itself).

Balance​

The amount of a given asset an account holds. Each asset has its own balance and these balances are stored in trustlines for every asset except XLM, which is held directly by the account.

Base fee​

The fee the network charges per operation in a transaction. When the network is in surge pricing mode, the base fee varies based on an auction mechanism. When it's not, the base fee defaults to the network minimum currently at 100 stroops per operation.

Learn more in our Fees, Surge Pricing, and Fee Strategies Encyclopedia Entry

Base reserve​

A unit of measurement used to calculate an account’s minimum balance. One base reserve is currently 0.5 XLM.

Learn more in our Lumens section.

Keypair​

A combined public and private key used to secure transactions. You can use any Stellar wallet, SDK, or the Stellar Laboratory to generate a valid keypair.

Keystore​

An encrypted store or file that serves as a repository of private keys, certificates, and public keys.

Ledger​

A representation of the state of the Stellar universe at a given point in time, shared across all network nodes.

LedgerKey​

LedgerKey holds information to identify a specific ledgerEntry. It is a union that can be any one of the LedgerEntryTypes (ACCOUNT, TRUSTLINE, OFFER, DATA, or CLAIMABLE_BALANCE).

Liability​

A buying or selling obligation, required to satisfy (selling) or accommodate (buying) transactions.

Orderbook​

A record of outstanding orders on the Stellar network.

Passive order​

An order that does not execute against a marketable counter order with the same price; filled only if the prices are not equal.

Pathfinding​

The process of determining the best path of a payment, evaluating the current orderbooks, and finding the series of conversions to achieve the best rate.

Payment channel​

Allows two parties who frequently transact with one another to move the bulk of their activity off-chain, while still recording opening balances and final settlement on-chain.

Price​

The ratio of the quote asset and the base asset in an order.

Rate-limiting​

Horizon rate limits on a per-IP-address basis. By default, a client is limited to 3,600 requests per hour, or one request per second on average.

Sequence number​

Used to identify and verify the order of transactions with the source account.

Secret (private) key​

The private key is part of a keypair, which is associated with an account. Do not share your secret key with anyone.

Signer​

Refers to the master key or to any other signing keys added later. A signer is defined as the pair: public key + weight. Signers can be set with the Set Options operation.

See our Signature and Multisignature Encyclopedia Entry for more information.

Source account​

The account that originates a transaction. This account also provides the fee and sequence number for the transaction.

Starlight​

Stellar’s layer 2 protocol that allows for bi-directional payment channels.

Stellar​

A decentralized, federated peer-to-peer network that allows people to send payments in any asset anywhere in the world instantaneously, and with minimal fees.

Stellar Consensus Protocol (SCP)​

Provides a way to reach consensus without relying on a closed system to accurately record financial transactions.

Stellar Core​

A replicated state machine that maintains a local copy of a cryptographic ledger and processes transactions against it, in consensus with a set of peers; also, the reference implementation for the peer-to-peer agent that manages the Stellar network.

Stellar.toml​

A formatted configuration file containing published information about a node and an organization. For more, see the Stellar Info File spec (SEP-0001`)

Transaction​

A group of 1 to 100 operations that modify the ledger state.

Read more in the Operations and Transactions section.

Transaction envelope​

A wrapper for a transaction that carries signatures.

Transaction fee​

Stellar requires a small fee for all transactions to prevent ledger spam and prioritize transactions during surge pricing.

Trustline​

An explicit opt-in for an account to hold a particular asset that tracks liabilities, the balance of the asset, and can also limit the amount of an asset that an account can hold.

Learn more in our Accounts section.

Validator​

A basic validator keeps track of the ledger and submits transactions for possible inclusion. It ensures reliable access to the network and sign-off on transactions. A full validator performs the functions of a basic validator, but also publishes a history archive containing snapshots of the ledger, including all network transactions and their results.

XLM (lumens)​

The native currency of the Stellar network.

Wallet​

An interface that gives a user access to an account stored on the ledger; that access is controlled by the account’s secret key. The wallet allows users to store and manage their assets

Monetize and Tokenize Data

Ocean Protocol Network

https://blog.oceanprotocol.com/how-to-monetize-tokenize-data-8f860e405773

four building blocks needed to make this vision of open data sharing a reality. This open system allows every data provider to monetize and tokenize their data, so that data itself could be a sustainable business model. Once I explain how data can be used more openly, can we then apply the tools of finance to it?

Ocean architecture

https://docs.oceanprotocol.com/concepts/architecture/

• Components

  • Tier 3 - Application Layer
  • Tier 2 - Protocol Layer
  • Tier 1 - Decentralized VM Layer
• Interactions

Image Modified

https://docs.oceanprotocol.com/concepts/secret-store/

Ocean Software components

https://docs.oceanprotocol.com/concepts/components/

Keeper

A computer running an EVM-compatible blockchain client (such as Parity Ethereum) where the associated blockchain network is running the Ocean Protocol keeper-contracts (smart contracts).

Secret Store

A Parity Secret Store: software for distributed key pair generation, distributed key storage, and threshold retrieval. It’s used to store asset access-control keys.

Acquarius item metadata manager

Marketplaces run Aquarius to store and manage metadata about the assets available in their marketplace. It provides an HTTP API for interacting with an off-chain database (sometimes called “OceanDB”).

Ocean DB Drivers

Aquarius supports several options for the off-chain database (OceanDB), including Elasticsearch and MongoDB. One can add support for another off-chain database by creating a new driver similar to the existing OceanDB drivers.

Birzio to manage access to market assets

Publishers run Brizo to manage interactions with marketplaces and consumers. It interacts with the publisher’s cloud and/or on-premise infrastructure.

The most basic scenario for a publisher is to provide access to the assets the publisher owns or manages, but Brizo can do much more.

Events Handler

Brizo communicates with the Events Handler to deal with Keeper Contracts events.

The Events Handler monitors Service Execution Agreement (SEA) events and acts as a provider agent to grant access and release rewards for the publisher/provider. This is a critical part in the process of consuming data sets in the Ocean Protocol network.

Every provider in the network must run some sort of an events handler to be able to fulfill the access condition of an Access service in a Service Execution Agreement.

Osmosis Drivers

Brizo supports several options for file storage, including Azure Storage, Amazon S3 and on-premise storage. One can add support for another file storage option by creating a new driver similar to one of the existing Osmosis drivers.

Squid Libraries

Client libraries used by applications (such as Pleuston or Jupyter notebooks) to interact with Ocean components, including Keepers, Aquarius nodes, Brizo nodes, etc.

Commons Marketplace

An online example marketplace/publisher for consumers to explore, download, and publish open data sets in the Pacific Network. Implemented using React and squid-js.

For more information, see the blog post about Commons Marketplace.

Pleuston example marketplace publisher

An example marketplace/publisher front-end for developers to explore, download, and publish assets in an Ocean Protocol network. Implemented using React and squid-js.

Ocean Tutorials

https://docs.oceanprotocol.com/tutorials/introduction/

Potential Value Opportunities

Stellar and Ripple are useful for international payments with automated FX

https://www.crypto-news-flash.com/harvard-ripple-xrp-and-stellar-lumens-xlm-will-be-backbone-of-payment-system-of-the-future/

SEC report notes  blockchain technology has become mature enough to handle FIAT currency in the digital format. Interestingly, the report also mentions that blockchain networks like Ripple and Stellar Lumens have seen growing acceptance while becoming the preferred choice for international businesses.

Payment and FX settlement example

These two blockchain platforms can facilitate instant CBDC settlements worldwide while leveraging the power of AI and Machine Learning. This process also involves an ML-controlled FX interface. The author explains the entire seven-step automated process for the immutable fund transfer chain.

1. The sender would initiate the transaction in FIAT currency, receive the private key and give the public key to the receiver.
2. The sender would choose either immediate conversion or future date conversion and give instructions to the ML-driven FX platform.
3. Based on instructions, the FX interface would convert FIAT to either XRP or XLM.
4. The ML-controlled Smart Contract will execute the instructions.
5. The FX interface shall send the crypto to the receiver. The XRP blockchain shall handle immutability and the verification process. The execution shall be handled with ML-implemented smart contracts.
6. The receiver would use the public keys sent by the sender and receive funds either in XLM or XRP tokens.
7. The receiver can convert the crypto to the FIAT of his/her choice instantaneously or on a future date. The ML-driven smart contracts will handle the future date execution.

Stellar can run CBDCs on the platform at low cost

Instead of building the CBDC infrastructure from the ground up, central banks can leverage the existing infrastructure to cater to their instant settlement needs.

Stellar easily handles 3,000 TPS for payments today

The Stellar developer tools and SDK make it easy to create any custom CBDC and run it on the Stellar network

Given costs and slow times to finality and throughput Ethereum and Bitcoin are not viable platforms for CBDC etc

Potential Challenges

Candidate Solutions

Social Solutions 

https://www.socialsolutions.com/blog/why-its-time-for-a-new-era-in-funding-social-good/

Sybal Social Goods Market

The Sybal Foundation provides an open market where participants invest in tokenized social good solutions ( projects and services ) and actively trade those investments managing their portfolios while supporting important social programs.  Non-profit organizations offer a wide selection of different social goods projects and services in the market participants can invest in and trade. 

Social good projects and services can apply for free market listings. 

This open system allows every data provider to monetize and tokenize their data, so that data itself could be a sustainable business model. Once I explain how data can be used more openly, can we then apply the tools of finance to it?

Communities Served

Investors

Step-by-step guide for Example

sample code block

Recommended Next Steps

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